TOP OF THE CHARTS: Data from the first half of 2018 shows a drop in media new business revenue and growing spending in China.
Independent consultancy R3 has issued a new report finding that a 40% year-on-year increase in creative reviews has led to an overall 18% increase in new business activity in Asia-Pacific for the first half of 2018.
Creative new business revenue leapt from US$293 million in H1 2017 to US$411 million in H1 2018, R3 said. However, media new business revenue in APAC saw a 17% decrease in the same period, which amounts to a US$158 million drop.
“We’ve seen a decrease in media agency reviews in the first half of 2018, due in large part to previous year’s activities in the region and onboarding this year,” said Sabrina Lee, managing director of R3 China.
In addition, R3 found that nine out of 10 APAC markets – the exception being Australia – saw increases in new business revenue in H1 2018, China leading the way with a 20% hike year-on-year. WPP also retained its status as the top network regarding APAC new business, although Publicis saw the greatest increase year-on-year at 165%
